Governments continue struggle with budgets in their march towards the euro

Nov 04, 2009
Staff and wire reports

TALLINN - Nomura International analyst Peter Attard Montalto says that Estonia, Latvia and Lithuania will keep their currencies pegged to the euro in a bid to prevent economic instability from spreading to Western Europe, reports bbn.ee. He feels that the three countries could switch to the euro as early as 2012. "Adding more pain to the economy now [through devaluation] does not make sense, especially politically, particularly considering contagion risks to Western Europe via banking sector ...

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